The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 3/15/2024 -
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iShares Lehman 20+ Year Treas Bond (TLT) Technical Analysis

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Summary:
Weekly :Price is near the Fibonacci 38.2% retracement level
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the iShares Lehman 20+ Year Treas Bond (TLT). During the week, the TLT dropped -2.79 points, or -2.91%, and closed at 92.94 on Friday, March 15, 2024. It was the worst weekly loss since October 20, 2023. TLT was trading at average weekly trading volume.

Long-term trend: [See TLT long-term trend chart]
A long-term downtrend had started on December 7, 2022 at 109.67 and reached 82.42 on October 23, 2023. TLT lost 27.25 points, or 24.85%, in 45 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See TLT medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 82.42 and reached 100.57 on December 28, 2023. TLT gained -18.15 points, or -22.02%, in 9 weeks. The price is now at the 42.04% retracement level.

Weekly Technical Indicators: [See TLT weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See TLT short-term trend chart]
A short-term downtrend had started on December 28, 2023 at 100.57 and reached 92.01 on February 21, 2024. TLT lost 8.56 points, or 8.51%, in 55 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 90.67 and resistance is at 96.68. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.

Daily Technical Indicators: [See TLT daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.68
Williams' Percentage Range (W%R) 76.10
Lane's Stochastic (%D-Slow) 36.63
Greed/Fear Indicator (GFI) 35.41
Moving Average Converg./Diverg. (MACD) 0.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.46
Williams' Percentage Range (W%R) 41.40
Lane's Stochastic (%D-Slow) 23.56
Greed/Fear Indicator (GFI) 41.91
Moving Average Converg./Diverg. (MACD) -0.48
Trading Signals
Description Value Chart
Upper Bollinger Band 96.70
Weekly Trendline Resistance 96.68
Parabolic System 96.14
50 Day Moving Average 94.61
20 Day Moving Average 94.05
Weekly Stochastic Crossing 93.83
Daily Stochastic Crossing 93.73
Price 92.94
Lower Bollinger Band 91.93
Weekly Trendline Support 90.67
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 92.01
Low Date 02/21/2024
High 96.40
High Date 03/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 96.68
Support 90.67
High 100.57
High Date 12/28/2023
Low 92.01
Low Date 02/21/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 82.42
Low Date 10/23/2023
High 100.57
High Date 12/28/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 109.67
High Date 12/07/2022
Low 82.42
Low Date 10/23/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 179.70
High Date 03/09/2020
Low 82.42
Low Date 10/23/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.